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 Post subject: March 26th Tuesday Trade Results - Profit $1460
PostPosted: Tue Mar 26, 2013 9:09 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1460.00 dollars or +14.60 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points. Total Profit @ $1460.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all trades were posted real-time in the free ##TheStrategyLab chat room. You can read today's ##TheStrategyLab trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=115&t=1468

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade.

Image Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=205&t=1773

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Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

S&P 500 Less Than 2 Points From Record High

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney)
Will Wednesday finally be the day the S&P 500 hits a new all-time high?

The S&P 500 is now less than 2 points away from its all-time closing high of 1,565.15. The blue chip index rose nearly 1% Tuesday, following better than expected reports about the U.S. economy and easing concerns about Cyprus.

"I'm assuming we'll make new highs in the S&P 500," said Ben Schwartz, chief market strategist at Lightspeed Financial. He said the S&P 500 has been stuck in a trading range, but added that it could break out soon as companies begin to report first-quarter results.

The Dow Jones industrial average gained 112 points, or 0.7%, to end at a record closing high of 14,559.65. The Nasdaq rose 0.5%.

Beware the tumbleweeds on Wall Street. While it's encouraging to see stocks moving higher, traders noted that Tuesday's gains came on light volume, with many market participants out for Passover and others getting ready for Easter. U.S. and European markets will be closed Friday for the Good Friday holiday.

The advance extends a rally that started late Monday, after a top eurozone official clarified a comment that a controversial bailout in Cyprus could be used as a template for other members of the currency union. The momentum accelerated Tuesday on reports that showed continued strength in the U.S. economy.

The U.S. Census Bureau reported that durable goods orders rose 5.7% in February, driven mainly by aircraft and defense orders. This suggests the U.S. economy is expanding at a 2.5%-3% annual rate in the current quarter, said Alan Levenson, an economist at T. Rowe Price.

Housing is hot. According to the S&P Case-Shiller index, home prices rose 8.1% in January from a year ago, marking the biggest year-over-year gain since June 2006.

New home sales came in at an annual rate of 411,000 in February, down from January and below forecasts. But "conditions remain favorable in the housing market, with prices rising and sales volume still on an upward trend," said Jim Baird, chief investment officer at Plante Moran Financial Advisors.

The Conference Board's consumer confidence index came in at 59.7 in March, which was below expectations and lower than February's reading. But a reading above 50 reflects optimism.

Related: Fear & Greed Index: Getting greedy

Overall, stocks are poised to go higher as investors who have been waiting on the sidelines continue to look for opportunities to get back in, said Joe Bell of Schaeffer's Investment Research.

"People want to buy the market as it breaks new highs," said Bell. "There could still be pullbacks, but we see any pullback as a good buying opportunity."

Europe not out of the woods yet. Meanwhile, investors continue to monitor the turmoil in Cyprus but consider the situation with a new sense of calm. Cyprus' banks will remain shut until Thursday to give regulators time to guard against a run on deposits. Some form of capital controls will be applied when the banks eventually reopen.

The island nation agreed early Monday to raise billions of euros from big depositors at the Bank of Cyprus and Popular Bank of Cyprus, and to shrink its banking sector in return for a €10 billion European Union bailout.

European markets ended higher, recovering some ground lost Monday when bank stocks were hit by concern that the Cyprus bailout could serve as a model for future eurozone rescues. Shares of Banco Santander (SAN) and Deutsche Bank (DB) continued to trend lower.

Related: Check out CNNMoney's new portfolio tool!

Children's Place (PLCE) reported that sales and profit jumped in 2012. But the company issued a weak forecast for the first quarter of 2013, citing "the unfavorable weather and weak macro-economic environment." The stock dropped 3%.

In other corporate news, Boeing (BA, Fortune 500) completed the first test flight for its troubled 787 Dreamliner since redesigning the aircraft's battery system.

Asian markets ended mixed. The Shanghai Composite lost 1.3%, the Nikkei declined 0.6% and the Hang Seng added 0.3%.

The dollar declined against the euro, but rose versus the British pound and Japanese yen.

Oil prices edged higher, while gold prices fell slightly.

The price on the 10-year Treasury fell, pushing the yield up to 1.93% from 1.91% late Monday.

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4:20 pm : Equities finished today's session with firm gains and the S&P 500 settled higher by 0.8%. After starting the day on a positive note, the benchmark average spent the balance of the session in a six-point range.

An otherwise quiet session was interrupted by a brief morning stumble when Reuters cited a European lawmaker, who said the European parliament will push for depositors with more than EUR100,000 to face bail-ins under a new resolution law. The remark carried a similar tone to yesterday's comments from Eurogroup head Jeroen Dijsselbloem, who hinted the framework of the Cypriot rescue package may be used again in the future.

Although the major averages ended firmly higher, defensive sectors were the clear winners while economically-sensitive groups trailed behind the broader market.

The health care space showed strength at the open, and led the S&P 500 throughout the day. In addition, consumer staples and utilities also found themselves in the top half of today's sector rankings.

Energy was the only economically-sensitive group which settled among the leaders. Crude oil contributed to the sector strength as the energy component climbed 1.5% to $96.26. Meanwhile, the SPDR Energy Select Sector (XLE 79.28, +0.83) ended higher by 1.1%.

Outside of energy, other cyclical sectors saw more limited gains. The consumer discretionary sector underperformed after February new home sales and March consumer confidence missed expectations.

New home sales in February hit an annualized rate of 411,000, which was down from January's revised rate of 431,000, and worse than the rate of 426,000 that had been broadly expected by the Briefing.com consensus. The news caused homebuilders to miss out on today's rally, and the iShares Dow Jones US Home Construction ETF (ITB 23.98, -0.05) settled lower by 0.2%.

Elsewhere, retailers underperformed after March consumer confidence slipped to 59.7 (66.9 Briefing.com consensus) from February's reading of 69.0. The SPDR S&P Retail ETF (XRT 70.29, +0.02) ended flat after being down as much as 0.6% intraday.

Also of note, producers of basic materials lagged after being the weakest performing group in each of the past three sessions. As a result, the SPDR Materials Select Sector ETF (XLB 39.04, +0.27) is down nearly 1.5% since last Wednesday's close. Meanwhile, the S&P 500 has added five points in that same timeframe.

While the S&P 500 ended firmly higher, the Russell 2000 did not share that optimism. The small cap index spent the bulk of the day near its unchanged level before a late-afternoon bid contributed to a gain of 0.3%.

Today's volume was the second lowest of the year as just over 558 million shares changed hands on the floor of the New York Stock Exchange.

Looking back at the final sector rankings, health care (+1.2%), energy (+1.1%), utilities (+1.0%), and consumer staples (+0.9%) outperformed while industrials (+0.5%), consumer discretionary (+0.5%), and materials (+0.6%) lagged.

Reviewing today's remaining economic data, durable goods orders jumped 5.7% (Briefing.com consensus +3.8%) in February, led by a 21.7% increase in transportation equipment orders that totaled $74.4 billion. The improvement was paced by a 95.3% gain in nondefense aircraft and parts that flowed from a large pickup in orders at Boeing (BA 86.62, +1.77). Excluding transportation, orders declined 0.5% (Briefing.com consensus -0.2%).

The January Case-Shiller 20-city Home Price Index rose 8.1% while a 7.5% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 6.8%.

In tomorrow's economic news, the weekly MBA Mortgage Index will be reported at 7:00 ET and February pending home sales will be announced at 10:00 ET.

The U.S. Treasury will auction off $35 billion in 5-yr notes.DJ30 +111.90 NASDAQ +17.18 SP500 +12.08 NASDAQ Adv/Vol/Dec 1422/1.40 bln/1015 NYSE Adv/Vol/Dec 2067/558.3 mln/926

3:35 pm : Energy markets showed some solid gains today across the board with crude oil, natural gas, heating oil and RBOB gasoline futures all rising. In the precious metals space, however, losses continued to persist and both gold and silver closed lower.

Crude oil was in positive territory all session. The energy component extended gains into the close of floor trading and hit a new session one minute before the close at $96.45/barrel. Crude finished the day at $96.20/barrel, up 1.5%.

Natural gas futures rallied early/mid-morning to as much as $4.00/MMBtu. By the end of today's floor session, the May nat gas contract was 2.6% higher at $3.99/MMBtu.

May gold ended the day 0.6% lower at $1595.40/oz, while May silver declined 0.6% at $28.66/oz. May copper futures ultimately ended the day unchanged at $3.44/lb.DJ30 108.59 NASDAQ +15.64 SP500 +11.70 NASDAQ Adv/Vol/Dec 1328/1219.2 mln/1123 NYSE Adv/Vol/Dec 2011/401 mln/966

3:00 pm : Heading into the final hour of action, the S&P 500 is firmer by 0.6%, hovering just five points away from a record high close. The health care sector remains as the top performer while growth-oriented groups continue to trail behind the broader market.

Even though the S&P 500 trades firmly higher, the bullish sentiment is not being reflected by the Russell 2000. The small cap index saw gains in morning trade, but has spent the entire afternoon near its unchanged level. The iShares Russell 2000 Index ETF (IWM 93.93, -0.02) trades flat.DJ30 +92.14 NASDAQ +10.45 SP500 +9.33 NASDAQ Adv/Vol/Dec 1179/1.04 bln/1231 NYSE Adv/Vol/Dec 1896/342.8 mln/1080

2:30 pm : After climbing to 1560 shortly after the opening bell, the S&P 500 has spent the balance of the session within a three point range of that level. The health care sector has shown strength from the start and the defensively-oriented space trades higher by 1.1%.

Growth-oriented sectors continue to lag with consumer discretionary, industrials, and materials clustered in the bottom third of sector rankings. In addition, the financial sector also trails behind the broader market with continued uncertainty surrounding the Eurozone. The SPDR Financial Select Sector ETF (XLF 18.20, +0.07) is adding 0.4%.DJ30 +96.50 NASDAQ +11.71 SP500 +9.60 NASDAQ Adv/Vol/Dec 1174/972.6 mln/1233 NYSE Adv/Vol/Dec 1878/318.4 mln/1070

2:00 pm : Recent trade saw the S&P 500 return to the top of its session range. The benchmark trades higher by 0.6% and health care remains as the top performing sector.

Although the Dow and S&P 500 trade with comparable gains, the Nasdaq has been more tentative in its advance. The tech-heavy index trails behind the broader market as its largest component, Apple (AAPL 463.42, -0.16) shows little change.

Outside of Apple, other tech stocks have shown relative strength. Chipmakers trade broadly higher and the PHLX Semiconductor Index is higher by 0.7%.DJ30 +94.42 NASDAQ +11.77 SP500 +9.50 NASDAQ Adv/Vol/Dec 1168/892.5 mln/1222 NYSE Adv/Vol/Dec 1884/290.8 mln/1074

1:30 pm : Quiet afternoon trade continues with the S&P 500 higher by 0.6%. Sector leadership remains little changed with consumer staples, health care, and utilities pacing the advance.

Meanwhile, consumer discretionary stocks, industrials, and materials can be found at the bottom of sector rankings. Today's economic data has prevented the discretionary sector from registering further gains after February new home sales and March consumer confidence were both reported below expectations. Homebuilders trade with slim losses and the iShares Dow Jones US Home Construction ETF (ITB 23.97, -0.06) is off by 0.2%.

The disappointing consumer confidence report has contributed to the underperformance of retailers as the SPDR S&P Retail ETF (XRT 70.01, -0.26) trades lower by 0.4%.DJ30 +89.23 NASDAQ +11.21 SP500 +8.76 NASDAQ Adv/Vol/Dec 1162/830.6 mln/1210 NYSE Adv/Vol/Dec 1876/272.1 mln/1077

1:05 pm : The S&P 500 trades higher by 0.5% after spending the first half of today's session near its best level of the day.

Stocks saw firm gains at the start as European officials continued to refute yesterday's comments from Jeroen Dijsselbloem, who indicated the framework of the Cypriot bailout will likely be used in future negotiations.

Although it appeared the fears were calmed, a late morning stumble took place after Reuters cited a European lawmaker who said the European parliament will push for depositors with more than EUR100,000 to face bail-ins under a new resolution law. The remark had a similar tone to yesterday's original comments from Mr. Dijsselbloem, and was also met with a prompt refutation.

An immediate reaction saw the euro drop to its lows against the dollar, before returning into the day's range. However, a safety bid ran German Bunds to session highs, which pressured the 10-yr yield to its lowest level of the session.

Even though the major averages trade with broad gains, today's advance comes with a cautious undertone. Defensively-oriented consumer staples, health care, and utilities have provided the bulk of sector leadership while cyclical consumer discretionary, industrials, and materials continue to trail behind the broader market.

The consumer discretionary sector is seeing limited gains after March consumer confidence fell to 59.7 from last month's reading of 69.0. Retailers have shown notable weakness and the SPDR S&P Retail ETF (XRT 69.97, -0.30) trades lower by 0.4%.

Elsewhere, the materials sector has continued its recent streak of underperformance. The SPDR Materials Select Sector ETF (XLB 38.92, +0.15) trades with a slimmer gain than the broader market, and the sector ETF is down 2.0% since Wednesday's close. Meanwhile, the S&P 500 has shown no change in that timeframe.

Reviewing today's economic data, durable goods orders jumped 5.7% (Briefing.com consensus +3.8%) in February, led by a 21.7% increase in transportation equipment orders that totaled $74.4 billion. The improvement was paced by a 95.3% gain in nondefense aircraft and parts that flowed from a large pickup in orders at Boeing (BA 86.48, +1.63). Excluding transportation, orders declined 0.5% (Briefing.com consensus -0.2%).

The January Case-Shiller 20-city Home Price Index rose 8.1% while a 7.5% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 6.8%.DJ30 +76.82 NASDAQ +7.22 SP500 +7.01 NASDAQ Adv/Vol/Dec 1109/768.9 mln/1251 NYSE Adv/Vol/Dec 1787/252.3 mln/1144

12:30 pm : The S&P 500 continues to trade higher by 0.5% and defensively-oriented sectors remain in the lead. Consumer staples, health care, and utilities have paced the early gains, and the energy sector has shown some recent strength as well. The SPDR Energy Select Sector ETF (XLE 78.99, +0.54) is higher by 0.7% while crude oil trades with a gain of 0.6% at $95.39.

The energy sector is the only growth-oriented group outperforming the broader market. Consumer discretionary stocks, industrials, and materials are adding just 0.2% each.DJ30 +79.10 NASDAQ +7.82 SP500 +7.22 NASDAQ Adv/Vol/Dec 1143/708.9 mln/1209 NYSE Adv/Vol/Dec 1817/234.2 mln/1104

12:00 pm : Recent trade saw little change from the major averages and the S&P 500 continues to trade higher by 0.5%. Defensive sectors remain atop the leaderboard with consumer staples, health care, and utilities all up between 0.7% and 0.9%.

On the downside, the materials sector is the biggest laggard as the SPDR Materials Select Sector ETF (XLB 38.84, +0.06) trades higher by 0.2%. The relative weakness of the sector is notable after the growth-oriented space finished as the worst performer in each of the past three sessions. Since last Wednesday's close, the materials sector proxy ETF is down over 2.0% while the S&P 500 has gained about two points in that same timeframe.DJ30 +88.49 NASDAQ +9.32 SP500 +7.83 NASDAQ Adv/Vol/Dec 1175/609.9 mln/1172 NYSE Adv/Vol/Dec 1840/205.2 mln/1071

11:30 am : Equities continue to trade near their best levels of the day with the S&P 500 higher by 0.6%.

Although the broader market trades firmly higher, defensively-oriented sectors are the clear outperformers. The health care space is leading the broader market amid sector-wide strength. The SPDR Health Care Select Sector ETF (XLV 45.16, +0.36) is firmer by 0.8%. In addition to health care, the top of the sector leaderboard is being rounded out by consumer staples and utilities.

On the downside, the financial space is the biggest laggard amid continued uncertainty surrounding the future of the eurozone. Bank of America (BAC 12.17, -0.23) is the weakest performer among the majors, down 1.8%.

In addition, the consumer discretionary sector trails behind the broader market after March consumer confidence fell to 59.7 from last month's reading of 69.0. Retailers have shown notable weakness and the SPDR S&P Retail ETF (XRT 69.95, -0.32) trades lower by 0.5%.DJ30 +84.98 NASDAQ +8.20 SP500 +7.00 NASDAQ Adv/Vol/Dec 1165/535.4 mln/1148 NYSE Adv/Vol/Dec 1812/182.2 mln/1075

11:00 am : Recent trade saw the major averages slip off their highs after Reuters cited a European lawmaker who said the European parliament will push for depositors with more than EUR100,000 to face bail-ins under a new resolution law.

This report suggests that yesterday's original comments from Eurogroup head Jeroen Dijsselbloem did have some validity to them as the European parliament is discussing the implementation of such measures.

The news weighed on bank shares and the SPDR Financial Select Sector ETF (XLF 18.18, +0.05) slipped to session lows before returning to the middle of its range. The financial sector proxy ETF currently trades higher 0.3%.DJ30 +90.25 NASDAQ +9.40 SP500 +7.38 NASDAQ Adv/Vol/Dec 1189/458.9 mln/1083 NYSE Adv/Vol/Dec 1831/157.3 mln/1008

10:30 am : The dollar index just moved back into positive territory, which would typically provide price support to commodities.

Crude oil has been in positive territory all session and rose as high as $95.88. In current action, May crude is +0.8% at $95.58/barrel. Natural gas futures has been in positive territory all session, but have lost about half of its gains from its HoD of $3.95. May nat gas is now +0.8% at $3.92/MMBtu.

Gold futures have been in the red all session and have been trading in a consolidated pattern near its session lows. Silver sold off a short while ago and are also near its session low. Apr gold is now -0.6% at $1595.20/oz and May silver is -0.5% at $28.67/oz.

Copper futures have been trading higher all session so far. Currently, the May contract is +0.69% at $3.46/lb.DJ30 +102.13 NASDAQ +12.64 SP500 +8.51 NASDAQ Adv/Vol/Dec 1354/347.5 mln/871 NYSE Adv/Vol/Dec 1970/121 mln/836

10:05 am : The major averages ticked lower in reaction to the latest new home sales and consumer confidence data.

New home sales in February hit an annualized rate of 411,000, which was down from January's revised rate of 431,000, and worse than the rate of 426,000 that had been broadly expected by the Briefing.com consensus. The SPDR S&P Homebuilders ETF (XHB 29.93, +0.04) slipped off its highs in reaction to the data.

The latest consumer confidence reading for March came in at 59.7, while economists polled by Briefing.com expected a reading of 66.9. This follows the prior month's reading of 69.0.DJ30 +82.56 NASDAQ +11.96 SP500 +7.59 NASDAQ Adv/Vol/Dec 1320/217.3 mln/827 NYSE Adv/Vol/Dec 1944/86.4 mln/804

09:45 am : The major averages began the session on a positive note and the S&P 500 trades higher by 0.5%. All ten S&P 500 sectors trade in positive territory with energy, health care, and technology pacing the early gains.

On the downside, consumer stocks trail behind the broader market with the discretionary sector as the weakest performer in early trade.

Looking at today's economic data, durable goods orders jumped 5.7% (Briefing.com consensus +3.8%) in February, led by a 21.7% increase in transportation equipment orders that totaled $74.4 billion. The improvement was paced by a 95.3% gain in nondefense aircraft and parts that flowed from a large pickup in orders at Boeing (BA 85.93, +1.08).

Excluding transportation, orders declined 0.5% (Briefing.com consensus -0.2%).

The January Case-Shiller 20-city Home Price Index rose 8.1% while a 7.5% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 6.8%.

Today's economic data will be topped off with the February new home sales report as well as March consumer confidence. Both data points will cross the wires in 15 minutes.DJ30 +89.24 NASDAQ +16.44 SP500 +8.75 NASDAQ Adv/Vol/Dec 1450/127.7 mln/656 NYSE Adv/Vol/Dec 2063/62.7 mln/643

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +11.20. Heading into the open, equity futures signal a modestly higher start to the session with the S&P 500 futures firmer by 0.3%.

While U.S. index futures trade with slim gains, European indices have surrendered the bulk of their early gains. Peripheral markets are among the sources of weakness with Spain's IBEX lower by 1.4% after the Bank of Spain issued cautious economic projections for this year.

Domestically, investors have received a handful of economic data points. February durable goods orders increased by 5.7%, which was better than the 3.8% increase that had been expected among economists polled by Briefing.com. Excluding transportation related items, durable goods orders decreased by 0.5% while the consensus expected a downtick of 0.2%.

Two more economic reports remain on today's calendar. February new home sales and March consumer confidence will both be reported at 10:00 ET.

09:03 am : [BRIEFING.COM] S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +9.20.

U.S. equity futures continue to trade near their pre-market highs with the S&P 500 futures up 0.2%.

The major Asian bourses ended mixed as traders remained cautious, awaiting any developments out of Europe. Bank of Japan Governor Kuroda reiterated the need for 'bold easing' while suggesting the Bank of Japan will purchase medium to long-term bonds in an effort to keep yields suppressed. With little news flow out of the region, trade data was in focus. Hong Kong's trade deficit widened to HKD34.0 billion (HKD27.5 billion previous) and Vietnam's deficit ballooned to $300 million ($94 million previous) while the Philippines' shrank to $714 million (1.33 billion previous).

In Japan, the Nikkei closed lower by 0.6% as exporters lagged thanks to the stronger yen. Mazda Motor sank 4.4% and Sony gave up 2.7%. Meanwhile, telecom provider Softbank outperformed with a 2.5% gain after announcing plans to launch a tender offer for an online gaming company.
In Hong Kong, the Hang Seng finished higher by 0.3% thanks to some solid earnings reports. Wharf rallied 2.4% and Henderson Land surged 5.5% after both companies topped earnings expectations. Also fueling the gains in Henderson Land was a 1-for-10 bonus share issue.
China's Shanghai Composite settled lower by 1.3% as financials were under pressure. Minsheng Banking and Haitong Securities were hit especially hard, giving up 4.6% and 4.3% respectively.

European indices have slipped off their early highs amid notable underperformance from peripheral indices. Regional economic data was limited to the French consumer confidence, which slipped to 84 from 86. Today's reading fell short of the 85 expected by the market.

In news, Eurogroup officials have continued to refute yesterday's comments from Jeroen Dijsselbloem, who indicated the framework of the Cypriot bailout will likely be used in future negotiations. In Cyprus, the country's central bank said all banks will remain closed until Thursday. Elsewhere, Greek Piraeus Bank has acquired Cypriot bank units based in Greece for EUR524 million.

In the United Kingdom, the FTSE is little changed. Financials trade lower with Lloyds Banking Group and Standard Chartered down 1.6% and 1.0%, respectively.
Germany's DAX is firmer by 0.1% with growth-oriented names outperforming. HeidelbergCement is higher by 2.8% and Lanxess is rising 3.3%.
In France, the CAC is adding 0.5%. Electricite de France is leading the index, up 2.5%. On the downside, Credit Agricole is lower by 1.0% and Societe Generale is off by 1.5%.
Italy's MIB is slumping 0.8% with financials lagging. Banca Popolare dell'Emilia is down 3.8% and Unicredit trades lower by 2.5%.
Spain's IBEX is down 1.5% with bank stocks underperforming as well. Banco Bilbao Vizcaya Argentaria and Banco de Sabadell are both down near 2.4%.
Greek ASE is tumbling 4.8% after markets were closed in observance of Independence Day yesterday. Financials are being pressured amid worries the Cypriot bailout may serve as framework for future assistance to Greece. Alpha Bank is lower by 3.6%.

The January Case-Shiller 20-city Home Price Index rose 8.1% while a 7.5% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 6.8%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +8.70. Equity futures continue to trade with modest gains and the S&P 500 futures are higher by 0.2%.

February durable goods orders increased by 5.7%, which was better than the 3.8% increase that had been expected among economists polled by Briefing.com. This comes after the prior month's reading was revised up to reflect a decrease of 3.8%.

Excluding transportation related items, durable goods orders decreased by 0.5%, which was worse than the downtick of 0.2% that had been broadly anticipated.

08:04 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +8.00.

U.S. equity futures trade modestly higher amid mixed overseas trade. The S&P 500 futures are firmer by 0.1%.

Looking at overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng added 0.3% while Japan's Nikkei shed 0.6% and China's Shanghai Composite lost 1.3%.
In regional economic data:
South Korean GDP rose 0.3% quarter-over-quarter, slightly worse than the uptick of 0.4% expected by the general consensus.
New Zealand's trade surplus was reported at NZD414 million, better than the NZD17 million expected by the market.
Singaporean industrial production declined 16.6% year-over-year, worse than the 10.5% contraction expected by the market.
In news:
During his testimony before the Japanese parliament, Bank of Japan Governor Haruhiko Kuroda said the central bank will do "whatever it takes" to defeat deflation.
Reports out of New Zealand indicate the country is said to be experiencing its worst drought conditions since 2008.

European indices trade in mixed fashion with core indices outperforming. The United Kingdom's FTSE is firmer by 0.1%, Germany's DAX is higher by 0.2%, and France's CAC is rising 0.6%. On the periphery, Italy's MIB is down 1.0% while Spain's IBEX trades lower by 0.9%.
Regional economic data was limited:
French consumer confidence slipped to 84 from 86. Today's reading fell short of the 85 expected by the market.
In news:
This morning, Eurogroup officials have continued to refute yesterday's comments from Jeroen Dijsselbloem, who indicated the framework of the Cypriot bailout will likely be used in future negotiations.
In Cyprus, the country's central bank said all banks will remain closed until Thursday.
Greek Piraeus Bank has acquired Cypriot bank units based in Greece for EUR524 million.

U.S. pre-market trade has been quiet so far with very few movers of note:

The Children's Place (PLCE 43.30, -2.69) is down 5.9% after issuing downside first quarter and full-year 2014 earnings guidance.

February durable goods orders and durable orders ex-transportation will be released at 8:30 ET. The January Case-Shiller 20-city Index is set to follow at 9:00 ET while February new home sales and March consumer confidence will both be reported at 10:00 ET.

The U.S. Treasury will auction off $35 billion in 2-yr notes.

06:49 am : [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +11.50.

06:49 am : Nikkei...12471.62...-74.80...-0.60%. Hang Seng...22311.08...+59.90...+0.30%.

06:49 am : FTSE...6386.39...+8.10...+0.10%. DAX...7895.40...+24.40...+0.30%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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